Not Having Kids Is A Savvy Way To Save For Retirement

When it comes to saving for retirement, Americans are woefully
underprepared. A study by Bankrate.com found that around 28% of Americans
have no emergency savings.

Similarly, another 21% of Americans have some savings, but only
enough to cover expenses for three months. Couple that with the
economic
uncertainty of Social Security and Medicare, and you can see
why many people are looking for unconventional ways to free up
cash for retirement.

Here's a simple, albeit controversial, idea: don't have any kids.

A 2011 report by the USDA's Center for Nutrition Policy and
Promotion now puts the cost of raising a single child to the age
of 17 at roughly $235,000. That's up 3.5% from the year before.
Schooling, transportation, day care and feeding are the costs
that are seeing the largest increases when it comes to raising a
child. As expected, if a family makes more, the spending ratchets
up exponentially. That would be quite the nest egg if you didn't
have
to allocate it for children, wouldn't you say?

No College CostsAccording to the academic
think tank College Board, the average cost of just one year at a
public university is around $21,000. If you're talking private
school, the cost is nearly twice as much for just one year of
tuition costs. Even more troubling is the fact that college costs
are not included in the aforementioned $235,000. Just think how
much cushier things would be for you and your spouse if you could
boost your retirement portfolio by an extra $84,000.

Far Less StressAnyone who tells you
raising a child isn't a source of gray hair is simply lying.
Trying to balance kids and work, keeping your offspring on the
straight and narrow and waging daily homework battles can result
in a lot of stress for parents. By not having kids, you alone set
the priorities for life, for work and for finances. Your
retirement fund will also benefit.

More Free TimeJust imagine no PTA
meetings, no carpooling, no Little League, no bake sales and no
birthday parties. Your days before and after work will be free.
If you want to be proactive toward retirement, you can put this
time to good use by generating extra income. You could sign up to
fill out paid surveys online, sell your stuff on the Internet or
even start a side business. You'd be hard-pressed to make time
for these financially beneficial activities with a household full
of kids.

No Childcare PaymentsToday, both halves of
a married couple generally work. The thinking is that the extra
income can cover child care. According to the National
Association of Child Care Resources and Referral Agencies, a year
of child care can cost nearly $20,000. Not only can you save
money by not having kids, you can generate a lot more of
it.

No Need for an InheritanceIf you have
kids, it's natural to want to
leave something behind for them when you pass. If you don't
have kids to begin with, you'll never have to worry about that.
You can either spend the money during retirement, or you can
leave your money to a charity

The Bottom LineIn many ways, having kids
costs you dearly. Also, it's getting more and more expensive by
the day. If you're single, or married with no kids, you might
want to consider the notion of not having kids. The notion may
seem radical to some. From a purely financial standpoint,
however, there are plenty of perks to not having kids. Would you
choose retirement over offspring.